Published On: Tue, Sep 1st, 2015

Bank assures Nigeria SMEs of its support

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SME s finLAGOS, (CAJ News) – ACCESS Bank, Nigeria’s foremost financial institution, has pledged its support to micro, small and medium-sized enterprises (SMEs) in view of the sector’s potential to enhance economic
growth.

The bank has launched the Finance and Logistics Worldwide Scheme (FLOWS) in Onitsha, capital of Anambra State, in line with that commitment.

“We appreciate the fact that SMEs are the future andengine room of the economy. As a bank, Access is well positioned to providing the much-needed support through deliberate focus and commitment of resources towards their development,” said Arinze Osuachala, Head of Subsidiaries at Access Bank.

The official said it was vital that this integral sector of the economy received all the necessary support it needs to drive growth and development.

“The future outlook for the sector is encouraging provided that the challenges are militated against and the present gaps are adequately covered,” Osuachala said.

 The vast majority of companies in Nigeria are SMEs.

They account for the livelihoods of most of the country's 173 million people and are engines of diversification for a country long reliant on oil.

 – CAJ News

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